Bitcoin forum malaysia spa
Thank you for signing up. Sorry, it looks like an error occurred. A Texas man has been sentenced to 18 months in prison bitcoin forum malaysia spa operating a bitcoin-related Ponzi scheme that bitcoin forum malaysia spa say resulted in the first US criminal securities fraud case related to the digital currency. Shavers, who pleaded guilty in September to one count of securities fraud and who now supports himself as a cook, said in court he had "royally messed up" and had lost friends and embarrassed his family as a result of his fraud.
He operated the business from his home, offering bitcoin-related investments through the internet. Prosecutors said Shavers solicited the investments on the website Bitcoin Forum, and promised interest rates of 7 per cent per week to investors who loaned bitcoins to Bitcoin Savings and Trust while he pursued a market arbitrage strategy.
While Shavers invested some of the bitcoins with Mt Gox, the now-defunct Tokyo-based bitcoin exchange, he largely in typical Bitcoin forum malaysia spa scheme fashion used new investors' bitcoins to pay back prior investors, prosecutors said. At the peak of the scheme, Shavers controlled about 7 per cent of bitcoins in public circulation, prosecutors said.
In total, out of investors, at least 48 suffered losses, prosecutors said. Download our free app on the App Store or Google Play for the latest headlines and breaking bitcoin forum malaysia spa alerts. Sign up now for the latest news from Australia and around the world direct to your inbox. Follow SBS News to join in the conversation and never miss the latest live updates. New warning from lawyer behind citizenship crisis. Trump-Kim to meet in Singapore.
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